Sahara Refund With Interest or Without Interest – As per our readers’ demand and comments, we are publishing this article. If you want to know about Sahara Refund With Interest or Without Interest, continue reading and learn more.
Sahara Refund With Interest or Without Interest
The Sahara refund will be with interest. In August 2012, the Supreme Court ordered Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL) to refund the money they had raised from investors through optionally convertible debentures (OCDs) along with 15% interest. The total amount to be refunded is around Rs. 25,000 crore.
As of March 2023, Sebi has received requests for refund of only Rs. 138 crore. The remaining amount is still with Sebi. The refund process is slow because of the large number of investors involved and the need to verify their claims.
The interest rate on the Sahara refund is fixed at 15%. This is the same interest rate that was applicable to the OCDs when they were issued. The interest will be compounded annually and will be paid along with the principal amount.
The Sahara refund is expected to take several years to complete. However, investors can be assured that they will get their money back with interest.
Here are some additional details about the Sahara refund:
- The refund will be made through a Sahara Refund Portal that has been launched by the Securities and Exchange Board of India (Sebi).
- Investors can submit their claims for refund through the portal. They will need to provide their Aadhaar number, PAN number, and bank account details.
- The refund will be credited to the investors’ bank accounts within 45 days of filing the claim.
- Investors can track the status of their refund application through the portal.
If you are a Sahara investor, you can visit the Sahara Refund Portal to learn more about the refund process and to submit your claim.
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